CHAPTER 4
GROSS INCOME: CONCEPTS AND INCLUSIONS
SOLUTIONS TO ASSIGNED PROBLEMS
7. a. The income should be reported in 2009. In 2008, Jared has not received anything of
value.
b. The significance of wh
Continuous Probability Distributions
Chapter 7
The Uniform Distribution
The uniform probability distribution is perhaps the simplest distribution for a
continuous random variable.
This distribution is
Sampling Methods and the Central Limit Theorem
Chapter 8
Why Sample the Population?
1. To contact the whole population would be time consuming.
2. The cost of studying all the items in a population
Describing Data: Numerical Measures
Chapter 03
Parameter vs. Statistics
Central Tendency Measures of Location
The purpose of a measure of location is to pinpoint the center of a distribution of data.
Discrete Probability Distributions
Chapter 6
What is a Probability Distribution?
Characteristics of a Probability Distribution
Probability Distribution of Number of Heads Observed in 3 Tosses of a Coi
Describing Data: Displaying and Exploring Data
Chapter 04
Dot Plots
A dot plot groups the data as little as possible and the identity of an individual
observation is not lost.
To develop a dot pl
Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation
Chapter 02
Describing Data with Charts, Tables and Graphs - Example
The Applewood Auto Group (AAG) sells a wide ran
Industry standards suggest that 10% of new vehicles require warranty service within the
1st year. Jackson Chevy in Detroit, MI, sold 12 cars yesterday. a. What is the probability
that none of these ca
A Survey of Probability Concepts
Chapter 5
Learning Objectives
Probability
Experiment, Outcome and Event
An experiment is a process that leads to the occurrence of one and only one of several
po
Estimation and Confidence Intervals
Chapter 9
Point Estimates
A point estimate is a single value (point) derived from a sample and used to estimate a
population value.
Confidence Interval Estimates
A
One Sample Tests of Hypothesis
Chapter 10
Hypothesis and Hypothesis Testing
Null and Alternate Hypothesis
Important Things to Remember about H0 and H1
H0: null hypothesis and H1: alternate hypothesis
What Is Statistics
Chapter 01
Statistics is required for many college programs. Why?
1. Numerical information is everywhere.
2. Statistical techniques are used to make decisions that affect our dail